The SBV released Circular 19/2013/TT-NHNN and 20/2013/TT-NHNN replacing previous draft circular on the VAMC’s operation. The effective date is September 15, 2013 for both. Circular 19 covers the VAMC’s purchase, sale and resolution of acquired impaired loans while Circular 20 regulates repo transactions backed by VAMC-issued bonds (a.k.a. “special bond”).